Report: Clinical Health IT Market to Near $20B in 2019

The clinical health IT market is expected to reach $19.7 billion in 2019, according to a recent report from BCC Research.

The total market for the clinical healthcare IT technologies was at more than $14.1 billion in 2013 and almost $15.6 billion in 2014; the market is predicted to grow with a compound annual growth rate (CAGR) of 4.8 percent over the next five years. Electronic health records (EHRs) accounted for the largest share of the market (61.5 percent) in 2013, followed by telemedicine (23 percent) and picture archiving and communications systems (PACS) (7.8 percent), according to the report.

There is a growing interest in the healthcare industry in being able to import consumers’ self-monitoring data from their mobile devices to their EHRs. Some healthcare practitioners also envision providing follow-up recommendations and other health-related information to consumers via their self-monitoring applications, the researchers said.

“In the past few years, a new category of health IT has begun to emerge, with individual consumers using mobile and wearable electronic devices and software to collect data on and monitor biometric indicators such as weight and heart rate,” BCC Research analyst Andrew McWilliams, said in a press release statement. “These self-monitoring activities are initiated and carried out by the consumers themselves, without a medical prescription or healthcare provider’s directive, as in the case of telehealth.”